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Updated almost 2 years ago on . Most recent reply

User Stats

11
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9
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Nathaniel Epps
  • New to Real Estate
9
Votes |
11
Posts

Non FHA Assumable loan success

Nathaniel Epps
  • New to Real Estate
Posted

Hi everyone, this is my first post, so if I'm asking this question in the wrong area, my early apologies. I'm looking to purchase my first property, and I've been searching for properties with FHA Assumable loans. I do have a good amount of cash to make up the difference between the mortgage and the asking price, but I have a two-part question

1. Has anyone had any luck with assuming FHA residential home loans?

2. Has anyone been able to take out a second mortgage at closing to cover the difference?

I want to keep as much cash in reserve.

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